WestRock upgraded to Buy from Neutral at Citi

Citi analyst Anthony Pettinari upgraded WestRock to Buy from Neutral with a price target of $32, down from $34. Pulp and Paper Week on Friday indicated March Containerboard prices were flat, which is a surprise as Citi expected a $10-$20 per ton decline, the analyst tells investors in a research note. While industry challenges remain, there appears to be some stabilization in market conditions after four consecutive months of price declines, says the firm. Citi now sees a good entry point into WestRock following the recent selloff.